Pfizer (NYSE: $PFE) Stock Update

Pfizer Stock

Pfizer Inc. (NYSE: $PFE) stands as a prominent American multinational pharmaceutical and biotechnology firm, with its headquarters situated within the Spiral building in the heart of Manhattan, New York City.

This pharmaceutical giant has a rich history dating back to its founding in 1849 by two enterprising German individuals, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891).

Pfizer’s core mission revolves around the development and manufacture of pharmaceuticals and vaccines, spanning various therapeutic domains like immunology, oncology, cardiology, endocrinology, and neurology.

Among its diverse array of products, the Pfizer–BioNTech COVID-19 vaccine took center stage in 2022, generating an impressive $37 billion in revenue.

Other noteworthy products in Pfizer’s portfolio include Nirmatrelvir/ritonavir ($18 billion in 2022 revenue), Apixaban ($6 billion in 2022 revenue), a pneumococcal conjugate vaccine ($6 billion in 2022 revenue), and Palbociclib ($5 billion in 2022 revenue).

The company’s revenue stream in the same year was sourced predominantly from the United States (42%), with Japan contributing 8% and the remaining 50% hailing from various other countries.

Pfizer held a position in the Dow Jones Industrial Average stock market index from 2004 until August 2020. Furthermore, its financial prowess is reflected in its ranking at 38th on the Fortune 500 list and 39th on the Forbes Global 2000.

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Pfizer Stock Price Has Potential to Reach $75, Suggests Analysts

Over the past week, Pfizer Inc. (PFE) has witnessed a significant decline of nearly 6.75% in its stock price, firmly situating the PFE stock within bearish territory. The stock’s struggle to attract buyer interest near the previous swing low has resulted in a period of consolidation.

A closer examination of the daily chart reveals that Pfizer’s stock price experienced a breakdown from a 2-year low, descending to a lower level of $33.44.

In the analysis of the past 6 months, it becomes apparent that the PFE stock price has closely tracked the 50-day Exponential Moving Average (EMA), tracing a downward trajectory.

For Pfizer’s stock to reverse its declining momentum and alter the current trend, it will require a surge in buying volume. Nevertheless, this shift is expected to encounter hurdles, as numerous resistances loom on the upper side.

Analysts offering a 1-year price forecast for Pfizer Inc. present a broad range of possibilities, including an upside potential of 120%, which could propel the price to a high of $75.

Conversely, they also anticipate a potential drawdown of 5.85%, possibly pulling the price down to $32.

A detailed analysis of Pfizer’s stock options chain indicates that the current implied market volatility stands at 21.04%, showing a slight increase of 0.56% in the most recent trading session.

Notably, the at-the-money strike exhibits an Open Interest (OI) of 6,203 on the PUT side and 8,503 on the CALL side, signifying a predominance of sellers at the current market price (CMP).

At present, the PFE stock price is trading at $33.99 and has settled near recent lows following the formation of a new low. Bulls are striving to arrest the downward momentum and shift the trend in their favor.

However, the breakdown of the ongoing consolidation may trigger further selling, potentially pushing the PFE price to lower levels.

Given the current market dynamics, sellers are evidently in control, a trend that aligns with the option chain data favoring the dominance of sellers at the CMP.

Pfizer Inc., a pharmaceutical products manufacturer, has witnessed a 6.75% drop in its stock price over the past week, firmly placing it within a bearish trend.

The breach of a 2-year low has led to a consolidation phase near the lower end. To change this trajectory, an influx of buying volume is required, but it faces significant resistance ahead.

Analysts offer a broad range of predictions for the coming year, with a high of $75 and a low of $32. Option data underscores the prevalence of sellers at the current market price.

What is the future price of Pfizer stock?

The price target for Pfizer stands at $44.36, derived from 12 Wall Street analysts’ 12-month projections, released within the past three months. The most optimistic analyst anticipates a target of $75.00, while the most conservative forecast suggests a target of $35.00. On average, these targets indicate a 38.15% upswing from the current price of $32.11.

What will Pfizer stock be worth in 5 years?

As per the most recent extended outlook, Pfizer’s stock price is anticipated to reach $35 by the conclusion of 2024, followed by an increase to $40 by the middle of 2026.

Subsequently, Pfizer is expected to climb to $45 in 2027, $55 in 2028, $60 in 2029, $65 in 2030, $70 in 2032, $75 in 2034, and eventually reach $80 in 2035.

Is Pfizer a growing company?

Pfizer’s full-year 2022 financial report reveals an impressive 30% increase in operational revenue, surging to $100.3 billion, a significant uptick from the $81.2 billion reported in the previous year.

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